The provincial government is highlighting a program that is expected to result in more affordable rental housing in Hamilton.
Flamborough Ancaster Dundas Westdale Liberal MPP Ted McMeekin announced funding on Friday morning that will allow Hamilton and 12 other municipalities to provide development charge rebates for those who build high-rise, mid-rise and townhouse rentals.
McMeekin stresses that participating communities were selected based on need, adding that Hamilton ranked third when considering a list of factors.
Those include a 6,000-person wait list for affordable housing, low vacancy rates and the 23 per cent poverty rate among children in the city.
He adds that such incentives are crucial since rentals make up only six per cent of housing built in Ontario over the past two decades.
The initiative is part of the Wynne government’s Fair Housing Plan, a package of 16 measures to help more people find an affordable place to call home, while bringing stability to the real estate market.